Latest news with #GuidewireCloudPlatform
Yahoo
30-05-2025
- Automotive
- Yahoo
If P&C Insurance launches car sharing product on Socotra's cloud platform
If P&C Insurance, a property and casualty (P&C) insurer in the Nordic region, has gone live on Socotra with an embedded car sharing product. The product, now available on Socotra's cloud-native platform, was brought to market within a five-month period. Socotra is a policy and billing technology platform that helps insurers launch products and updates with the help of cloud technologies and application programming interfaces (APIs). The car sharing insurance product is designed to provide a digital experience with features that cater to the needs of car sharing platforms and their users. These include on-demand coverage, usage-based pricing and options for deductible reduction, aimed at delivering customised protection. The initial phase of the partnership involved a five-month proof of concept, where If P&C self-implemented the insurance product on Socotra's platform, integrating it with their systems for payments, claims, accounting and reporting. If intends to continue leveraging Socotra's open APIs and the platform's configurable nature for future product updates and integrations. Socotra CEO Dan Woods said: 'I applaud the tech-savvy team at If for launching an embedded car sharing product in only five months. I am proud that Socotra's powerful and flexible core platform has enabled If's rapid deployment and innovative solution, and I look forward to accelerating their growth into new markets.' Erik Granmar, CEO of If P&C's subsidiary, Insrt AB, stated: "Choosing Socotra was a strategic decision that allowed If to go live quickly while maintaining autonomy. Socotra's powerful and flexible policy core empowered our team to easily self-implement an embedded insurance product and connect it to an ecosystem of technology. 'By partnering with Socotra, If can deliver new products faster and more efficiently, positioning us for greater success in the Nordic and Baltic markets." In March this year, If P&C announced its first business release on the Guidewire Cloud Platform, utilising Guidewire InsuranceSuite. The Swedish insurer reports $7bn (Skr67.5bn) in gross written premiums. "If P&C Insurance launches car sharing product on Socotra's cloud platform " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
19-05-2025
- Business
- Yahoo
Belgian insurer P&V Group migrates to Guidewire Cloud platform
P&V Group has become the first Belgian insurance company to utilise the Guidewire Cloud Platform. The cooperative insurer migrated Guidewire's core applications to the Guidewire Cloud Platform to power its underwriting, billing and claims operations. Guidewire Cloud transforms the user's core system through a scalable, secure and rapidly updateable cloud delivery model. As part of the move, InsuranceSuite and Guidewire's digital, data and analytics solutions have been moved from an on-premises environment to a cloud-based platform. The migration is expected to streamline P&V Group's IT operations and provide better service to policyholders. The company has been utilising Guidewire solutions since 2014 and offers insurance products to individuals, businesses and institutions across various distribution channels and brands. P&V Group IT strategy & governance director Rudi Serron said: 'The professional collaboration between the P&V Group team and the Guidewire team has enabled a smooth transition to the cloud. The platform allows us to remain current thanks to regular updates of features and application capabilities. We are already enjoying the benefits of the migration, including an enhanced focus on innovation, with Open APIs and access to a wide-ranging marketplace of leading insurtechs.' Guidewire said that more than 570 insurers in 42 countries, from new ventures to the largest and most complex in the world, depend on its products. Guidewire senior vice-president and EMEA managing director Will McAllister said: "P&V Group is a great example of a European insurer which is dedicated to continuous innovation in the pursuit of enhancing customer experience. Guidewire Cloud Platform is the ideal platform to support this ambition, helping P&V Group to remove technical debt, improve operational efficiency, and grow profitably.' The shift to the Guidewire Cloud Platform follows a similar transition by Beneva, a Canadian mutual insurance company, which moved its core insurance operations to the Guidewire Cloud. "Belgian insurer P&V Group migrates to Guidewire Cloud platform " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
12-05-2025
- Business
- Yahoo
Guidewire Software (NYSE:GWRE) Expands Cloud Footprint With Mitsui Direct Partnership In Japan
Guidewire Software has seen a notable development with Mitsui Direct General Insurance Co. Ltd. opting for Guidewire's ClaimCenter on the Guidewire Cloud Platform, marking the first such migration in Japan. Over the past month, Guidewire's shares increased by 12%, a shift that may be aligned with positive developments within the company and broader market trends. This move coincides with a surge in stock markets, perhaps buoyed by easing U.S.-China trade tensions and overall optimism in tech stocks, which likely added weight to the company's performance and contributed to its robust return trajectory. Guidewire Software has 1 weakness we think you should know about. The end of cancer? These 24 emerging AI stocks are developing tech that will allow early identification of life changing diseases like cancer and Alzheimer's. The recent shift of Mitsui Direct General Insurance Co. Ltd. towards Guidewire's ClaimCenter on the Guidewire Cloud Platform could enhance the narrative of accelerating cloud adoption within the insurance industry. This move may support future revenue growth by increasing platform migration, reinforcing Guidewire's strategic objectives in analytics and AI, and potentially improving margins and efficiency over time. Over the past three years, Guidewire's shares have experienced a total return of 169.42%, indicating strong performance and investor confidence in the company's prospects. In comparison, the company's one-year return has exceeded both the US Market and the US Software industry, which grew by 8% and 14.9% respectively. The news could influence revenue and earnings forecasts positively, as ongoing cloud migration may drive long-term revenues, aligned with the forecasted 12.7% annual growth in revenue. However, potential risks related to execution, investment, and exchange rate fluctuations remain. Guidewire's current share price of US$204.95 shows a minor discount to the consensus analyst price target of US$210.72, suggesting a close alignment with perceived fair value. Observing the company's sustained growth and recent developments might reaffirm investors' confidence and potential for future uplifts in valuation. Nonetheless, the market's forward-looking sentiment must consider underlying risks and uncertainties. Review our growth performance report to gain insights into Guidewire Software's future. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NYSE:GWRE. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
12-05-2025
- Business
- Business Wire
Mitsui Direct Accelerates Transformation of Claims Operations by Migrating to Guidewire Cloud Platform
TOKYO & SAN MATEO, Calif.--(BUSINESS WIRE)--Guidewire announced that Mitsui Direct General Insurance Co., Ltd. (hereinafter "Mitsui Direct"), a direct-channel non-life insurance company and member of the MS&AD Insurance Group, selected Guidewire ClaimCenter on Guidewire Cloud Platform to streamline IT operations, respond quickly to market changes, and further improve customer service. This is the first cloud migration of ClaimCenter in Japan. Guidewire Senior Vice President and Managing Director, Asia-Pacific, Shaji Sethu commented, "We commend Mitsui Direct for their decision to migrate to Guidewire Cloud Platform in order to achieve further growth in the future, and drive improved operational productivity and efficiency while providing their customers with the best digital experience. Drawing on our experience with a variety of global clients, Guidewire will continue to support Mitsui Direct as they successfully migrate to the Guidewire Cloud Platform, and ensure that cloud services will bring efficiency to their business." About Mitsui Direct General Insurance Co., Ltd. Mitsui Direct General Insurance Co., Ltd. (Head Office: Bunkyo-ku, Tokyo; President and CEO: Takayuki Kawamura) is a member and a direct insurance company offering products primarily through the internet and telephone, with a focus on personal automobile insurance, and a member of the MS&AD Insurance Group, which aspires to be a world-class insurance and financial services group pursuing sustainable growth and enhanced corporate value. We strive to be a company that is both 'strong and kind,' and continues to be a trusted choice for customers. About Guidewire Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. More than 570 insurance brands in 42 countries, from new ventures to the largest and most complex in the world, rely on Guidewire products. With core systems leveraging data and analytics, digital, and artificial intelligence, Guidewire defines cloud platform excellence for P&C insurers. We are proud of our unparalleled implementation record, with 1,700+ successful projects supported by the industry's largest R&D team and SI partner ecosystem. Our marketplace represents the largest solution partner community in P&C, where customers can access hundreds of applications to accelerate integration, localization, and innovation. For more information, please visit and follow us on X (formerly known as Twitter) and LinkedIn. NOTE: For information about Guidewire's trademarks, visit .
Business Wire
01-05-2025
- Business
- Business Wire
Beneva Deploys Policy Administration, Underwriting, and Billing Operations on Guidewire Cloud Platform
QUEBEC CITY & SAN MATEO, Calif.--(BUSINESS WIRE)-- Beneva, the largest mutual insurance company in Canada, and Guidewire (NYSE: GWRE) announced that Beneva successfully deployed Guidewire PolicyCenter and Guidewire BillingCenter to power and simplify the company's underwriting, policy administration, billing management, and IT operations, adapt more quickly to changing market demands, and deliver more value to its policyholders. The company migrated its on-premises PolicyCenter and BillingCenter environments to Guidewire Cloud Platform, beginning with its personal lines of business. Beneva is currently migrating the Guidewire products for its commercial lines of business and will conclude the migration with its brokerage-based businesses. With the completion of this project, the company, which migrated Guidewire ClaimCenter to Guidewire Cloud Platform in 2023, is now a full Guidewire InsuranceSuite customer on Guidewire Cloud Platform. Guidewire PartnerConnect Consulting Global Premier member Deloitte led the implementation project. 'We have a Software-as-a-Service (SaaS)-first approach at Beneva, so migrating to Guidewire Cloud Platform will enable us to decrease risk by staying technically current on Guidewire technology so we can access all of the new features as soon as they become available,' said Beneva Information Technology Vice-President Property and Casualty and Corporate Services Éric Marcoux. 'The migration project was completed on time and on budget thanks to the strong collaborative partnership with Guidewire and Deloitte Canada. We're confident that by updating Guidewire Cloud Platform three times a year, we'll be able to quickly derive business value from using products and features such as Autopilot Workflow Service, Guidewire Data Studio, Guidewire Explore, and Guidewire Jutro Digital Platform that are only available on Guidewire Cloud Platform.' Deloitte Partner & Canadian Guidewire Alliance Leader Firas Zawadi said, 'We are honored that Beneva put its trust in Deloitte to migrate PolicyCenter and BillingCenter to Guidewire Cloud Platform. This highlights what is possible when great teams come together with a shared vision and relentless focus on outcomes.' 'We congratulate Beneva on their successful PolicyCenter and BillingCenter migration project to Guidewire Cloud Platform and are proud that InsuranceSuite on Guidewire Cloud Platform is serving as the technology foundation for the company's business strategy and success now and into the future,' said Guidewire Chief Customer Officer Christina Colby. 'We look forward to helping Beneva continue its mission of bringing together its mutualist values to protect people by providing caring insurance coverage that lets policyholders focus on what matters most.' Marcoux discussed Beneva's Guidewire journey at Connections 2025 last November. Watch the keynote presentation here. About Beneva Beneva is the country's largest mutual insurance company with 3.5 million members. Created by the coming together of La Capitale and SSQ Insurance in 2020, Beneva employs over 5,500 dedicated employees: people looking out for people. Its caring approach founded on human values and shared by its employees is anchored in its mutualist roots. With $27.5 billion in asset, Beneva has positioned itself as one of the leading Canadian companies in the insurance industry. It stands out for its diverse offerings in Group Insurance, Property and Casualty Insurance as well as Individual Insurance and Financial Services. Its head office is located in Quebec City. For more information, please consult About Guidewire Software Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. More than 570 insurers in 42 countries, from new ventures to the largest and most complex in the world, rely on Guidewire products. With core systems leveraging data and analytics, digital, and artificial intelligence, Guidewire defines cloud platform excellence for P&C insurers. We are proud of our unparalleled implementation record, with 1,700+ successful projects supported by the industry's largest R&D team and SI partner ecosystem. Our marketplace represents the largest solution partner community in P&C, where customers can access hundreds of applications to accelerate integration, localization, and innovation. For more information, please visit and follow us on X (formerly known as Twitter) and LinkedIn. NOTE: For information about Guidewire trademarks, visit .
